Mumbai/New Delhi, Dec. 5 -- The Reserve Bank of India's Monetary Policy Committee (MPC) on Friday reduced the key repo rate by 25 basis points to 5.25 per cent, citing the need to support growth amid easing inflation.
Announcing the MPC's decisions in Mumbai, RBI) Governor Sanjay Malhotra emphasised the need for banks and non-banking financial companies (NBFCs) to place customers at the centre of their operations.
He urged institutions to strengthen customer service frameworks and minimise grievance levels. The MPC's decision to cut the policy rate aims to support economic momentum while ensuring financial stability, the Governor noted.
The central bank simultaneously announced major liquidity measures, including Rs1 lakh crore in govern...